These financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meetings held on August 13, 2019. These results are as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The statutory auditors have carried out a limited review of these results for the quarter ended June 30,2019 and have issued an unmodified report on these results.

2

The Company is engaged in the manufacture of friction materials, which in the context of Indian Accounting Standard (lnd AS) 108 Operating Segments, is considered as the operating segment of the Company.

3

The figures for the quarter ended March 31, 2019 of the financial results are balancing figures between the audited figures of the full financial year ended March 31, 2019 and the published year to date figures up to third quarter ended December 31,2018.

4

The figures for the previous period have been regrouped wherever necessary to conform to current period classification.